Often Wrong, Never in Doubt with Your Money

By banphote @ Adobe Stock

Wow, were they wrong. All those big-shot mutual fund companies and money managers talking about the virtues of ESG and DEI. Their home pages were loaded with how this was the future. Of course, it was not the future but just another way to charge customers a higher fee.

What amazes me now is that they’re pulling the plug on their endeavor as if nothing happened. They’re all leaving the Net Zero Alliance behind. “Nothing to see here, folks.” It’s business as usual. Except it’s not because doing the right thing for clients takes courage. Expect them to pump up the next “big thing” soon.

For years, the websites of these major firms have been loaded with ESG and DEI claims. It was a perfect formula to play into the guilt of the wealthy Hollywood types who attend the charity events and say stuff like: “My money is saving the world.” And think to themselves, “And making me richer! Ha, ha, haaaaa!”

As for the so-called fiduciaries offering this rat food: These guys were so wrong. And they are still trusted to manage trillions of dollars for public pensions, and the like. What a racket.

Action Line: When you’re ready to talk about Y-O-U and not ESG or DEI, let me know. But only if you’re serious. Email me at ejsmith@yoursurvivalguy.com

Previous articleStick to Your Plan
Next articleNSA WARNING: Are You Being Tracked?
E.J. Smith - Your Survival Guy
E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West (RIP JB) and Paris. Please get in touch with E.J. at ejsmith@yoursurvivalguy.com To sign up for my free monthly Survive & Thrive letter, click here.